Market Update

Weaker USD on concerns of slowing growth in the US and a deterioating housing market. US T-notes seems to agree to after Friday’s strong reversal.

We look for Wednesday to be the trend-setter for the USD as GDP and Core PCE figures should confirm whether or not the so-called rumours are right.

The US stock indices remains heavy but no sign of a real reversal just yet.

March ’07 WTI closed above $60.7/bbl. which gives scope for a test of the level around $65/bbl.

Precious metals getting a boost shortly after CPI, though still range bound.

Gold Futures: Buy on a break of 691/692)@; Target 698/700; Stop below 687